Orko Silver Corp. has acquired 100% ownership of the Santa Monica Property in Durango, Mexico from Goldcorp Inc. for CAD $2 million, enhancing its significant resource portfolio adjacent to its La Preciosa Deposit.

Information on the Target

Orko Silver Corp. has successfully signed an agreement with Goldcorp Inc. and its subsidiaries to acquire 100% ownership of the Santa Monica Property, located in Durango, Mexico. This strategic property lies directly adjacent to Orko's existing La Preciosa Deposit. Previous assessments have revealed a compliant inferred resource estimate of 15.35 million tonnes, yielding an average of 0.321 grams per tonne (g/t) of gold and 190 g/t of silver at a cutoff grade of 100 g/t, equating to approximately 103.2 million ounces of silver equivalent.

Under the original arrangement, Orko had invested over US$1 million to secure a 51% stake in the property, with the opportunity to increase ownership by an additional 25% through further investment. The updated agreement now simplifies this by directly transferring the remaining 49% interest from the Goldcorp Group to Orko for a total purchase price of CAD $2 million, to be settled through the issuance of two million shares.

Industry Overview in Mexico

Mexico is globally recognized as a significant player in the mining sector, particularly known for its rich deposits of precious metals such as silver and gold. The mining industry contributes notably to the nation's economy, generating substantial revenue an